Land as well as home ownership is a dream most Nigerians share, but seeing the low ownership rate in Nigeria there is a major housing deficit to be bridged. The major issues that bring about this low rate include the high cost of securing and registering secure land title, inadequate access to finance, slow administrative procedures and the fledgling state of the mortgage finance industry in Nigeria with loan repayment costs remaining prohibitively high. This scheme will bring relief and succour to many Nigerians looking to own land and build their dream homes.
Speaking on this novel initiative, the CEO/Founder of LandWey Investment Limited, Olawale Ayilara, said: “We cannot talk about bridging the housing deficit in Nigeria, without talking about accessibility. Accessibility is key and central to the conversation to make land ownership for Nigerians an attainable dream regardless of their income levels. The purpose of the partnership bears in mind that people save for several reasons, and on a trusted platform such as Piggyvest people can take small, secure steps and buy real estate as either an investment or future construction. There has also been huge demand for land in fractions and with a platform like Piggyvest comes an advantage to access and own a piece of 100% genuine property."
Also speaking about the initiative, the CEO of PiggyVest Somtochukwu Ifezue expressed that the “initiative is a highly remarkable partnership with LandWey, as the two brands have come together to ensure everyone and especially young people can own a piece of land as little as one square metre with a very small amount of money.” According to Somtochukwu, “this initiative creates entry paths for virtually any Nigerian within low and medium-income brackets to actualize their dream of premium land ownership.”
By means of a saving scheme with PiggyVest, subscribers can begin their journey to land ownership, by making per square metre payments for their land, and getting to full-on allocation after having made payments worth a minimum of a 300 square metre lot. We are truly excited for the relief that this scheme will bring to many Nigerians. It brings us so much satisfaction to drive this customer-centric solution in hands with LandWey, to make land ownership for Nigerians an attainable dream regardless of income levels.
With this scheme, virtually any Nigerian can live their urban dream by taking gradual steps towards acquisition of land in square metres, whether for habitation when it amounts to 3000 square metres, or whether for investment purposes after your investment has gained appreciation and can be resold. We all know that land keeps appreciating, and so continuously waiting for lump sum to invest in real estate might make this dream become farfetched, and so this initiative is driven by demand.
When the most trusted name in real estate and savings platform collaborates, then you can be rest assured that this is going to me the most authentic, reliable entry into real estate investment that cuts across class or income strata.
LandWey Investment Limited is an innovative thought leader in real estate investment and advisory services, with over 22, 000 realtors and consultants and over 2 billion in assets as at 2018. The company was listed in Forbes Under 30 Business in Africa as a brand transforming the real estate industry in Nigeria.
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